Victory Capital Management Inc. Has $25.45 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 211.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 409,877 shares of the company's stock after purchasing an additional 278,252 shares during the quarter. Victory Capital Management Inc. owned about 0.20% of DocuSign worth $25,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV raised its stake in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company's stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in DocuSign in the third quarter worth about $47,000. nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter valued at about $48,000. Finally, Quarry LP acquired a new position in DocuSign during the 2nd quarter valued at about $53,000. Institutional investors own 77.64% of the company's stock.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares of the company's stock, valued at $4,859,782.17. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company's stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 over the last ninety days. 1.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a "sector perform" rating in a research note on Friday, September 6th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday, September 6th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of "Hold" and an average price target of $63.40.

DocuSign Trading Down 0.7 %

DOCU stock traded down $0.52 during mid-day trading on Monday, reaching $78.59. 647,879 shares of the stock traded hands, compared to its average volume of 2,873,365. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The stock's fifty day moving average is $67.05 and its 200-day moving average is $59.52. The company has a market cap of $15.95 billion, a P/E ratio of 16.69, a P/E/G ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.